Tags: EU | Europe | Hungary | State Aid

EU Probes Hungary for Possible Breach of State Aid Rules

Tuesday, 29 October 2019 07:41 AM EDT

BRUSSELS (AP) — The European Commission has launched an investigation to determine whether Hungary violated EU competition rules by allowing more than 20 million euros ($22 million) in subsidies to a Budapest-based ground handling company.

The Commission said Tuesday it wants to find out whether financing measures "totaling approximately 21 million euros" granted by various Hungarian state-owned entities to Malév Ground Handling were in line with EU rules for struggling companies.

Malév Ground Handling is a former subsidiary of Hungary's national airline, Malév, which went bankrupt in 2012. The commission says Malév Ground Handling has been struggling financially.

The commission's investigation stemmed from a 2017 complaint launched by a competitor that argues the subsidies received by Malév Ground Handling amounted to state aid and was against EU rules.

© Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


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The European Commission has launched an investigation to determine whether Hungary violated EU competition rules by allowing more than 20 million euros ($22 million) in subsidies to a Budapest-based ground handling company.The Commission said Tuesday it wants to find out...
EU,Europe,Hungary,State Aid
127
2019-41-29
Tuesday, 29 October 2019 07:41 AM
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